If the last few years have taught us anything, it’s how unpredictable life can be. That goes double for the housing market.
The good news is Calgary’s livability, relative affordability and increasingly diversified economy should keep us headed in a positive trajectory — and relatively sheltered from any other global shocks that could be waiting in the wings. The bad news is buying a home here is likely to get more expensive. Whether you’re looking to get into the market, or looking to make a move, here are 10 factors that could impact Calgary real estate in the next 10 years.Yes, it’s really that simple.
A major advantage Calgary has over other large Canadian cities is the ability to add more housing because we aren’t hemmed in by physical barriers like Vancouver or sandwiched up against other dense municipalities à la Toronto. “We do have the ability to add on supply, it just is going to take some time,” Lurie says. Just how much time it takes — and what happens to demand in the meantime — will play a major role in determining future costs of housing.
The draw for new residents isn’t the same as it was in previous generations, says Wellington Holbrook, CEO of. Looking back to the ’80s and ’90s, “people came here to make their fortune, often with a plan to go back home,” he says, noting the city’s population ebbed and flowed with the prospects of the oil and gas industry.
To that end, a new program set to be introduced this fall will offer homeowners financial incentives to implement energy upgrades, meaning more homes in existing communities may be retrofitted with heat pumps, tankless hot water systems and solar panels. However, the biggest strides toward greening our housing stock may be found in the suburbs.